Advent declares offer for Mediq unconditional

  • Advent declares the public offer for all Shares in Mediq unconditional.
  • More than 95% of the Shares tendered and accepted.
  • Settlement will take place on 13 February 2013.
  • Remaining Shares can be tendered in a post acceptance period ending 12 February 2013
  • Mediq to convene EGM

LONDON, UTRECHT, 1 February 2013 – AI Garden B.V. (the Offeror), a company ultimately indirectly controlled by funds advised and managed by Advent International, L.P. (Advent), is pleased to announce that it declares its recommended all-cash public offer (the Offer) for all the issued and outstanding ordinary shares with a nominal value of EUR 0.25 each (the Shares) in the capital of Mediq N.V. (Mediq) unconditional (doet gestand).
All conditions for completion of the Offer, as described in the Offer Memorandum, have been satisfied.

As announced by the Offeror on 29 January 2013, 56,187,125 Shares have been tendered for acceptance under the Offer during the Offer Period, representing approximately 96.1% of the total number of outstanding Shares and a value (at the increased Offer Price of EUR 14.00 per Share) of EUR 786,619,750. No treasury shares are held by Mediq and no Shares were acquired by the Offeror outside the Offer.

Settlement
With reference to the Offer Memorandum, Shareholders who accepted the Offer shall receive an amount in cash of EUR 14.00 per Share cum dividend (the Offer Price) for each Share validly tendered (or defectively tendered provided that such defect has been waived by the Offeror) and delivered (geleverd) under the terms and conditions and subject to the restrictions of the Offer.
Payment of the Offer Price per Share shall occur on 13 February 2013 (the Settlement Date).

Post Closing Acceptance Period (na-aanmeldingstermijn)
The Offeror grants those Shareholders who have not yet tendered their Shares under the Offer the opportunity to tender their Shares in a post closing acceptance period (naaanmeldingstermijn) commencing at 09:00 hours, Amsterdam time, on 4 February 2013 and expiring at 17:40 hours, Amsterdam time, on 12 February 2013 (the Post Closing Acceptance Period). Shareholders can tender their Shares during the Post Closing Acceptance Period in the same manner and subject to the same terms, conditions and restrictions as described in the Offer Memorandum. Shareholders who tender their Shares during the Post Closing Acceptance Period shall not have the right to withdraw such tendered Shares. Shares validly tendered (or defectively tendered provided that such defect has been waived by the Offeror) during the Post Acceptance Period will immediately be accepted. The Offeror shall arrange for payment for the Shares that are validly tendered (or defectively tendered provided that such defect has been waived by the Offeror) and delivered (geleverd) during the Post Acceptance Period up to and including 8 February 2013 on the Settlement Date. Furthermore, the Offeror shall arrange for payment for the Shares that are validly tendered (or defectively tendered provided that such defect has been waived by the Offeror) and delivered (geleverd) during the Post Acceptance Period after 8 February 2013 on the third Business Day after such Shares are tendered and delivered (geleverd).

Delisting
As a result of the acquisition of at least 95% of the Shares by the Offeror, the Offeror and Mediq jointly announce that they will request Euronext Amsterdam to terminate the listing and trading of the Shares on Euronext Amsterdam as soon as possible. Reference is also made to Section 6.11.5 of the Offer Memorandum.

General meeting of shareholders of Mediq
Mediq will as soon as possible convene an extraordinary general meeting of shareholders, at which meeting those resolutions that were proposed but not adopted during the extraordinary general meeting of shareholders of 20 December 2012 will again be proposed to, and put forward for adoption by, Mediq’s general meeting of shareholders.

Further consequences of the Offer
The Offeror will initiate a squeeze-out procedure and/or take other steps in order to acquire all Shares held by the minority shareholders as soon as possible. The purchase of Shares by the Offeror pursuant to the Offer will, amongst other things, reduce the number of Shareholders and the number of Shares that might otherwise trade publicly and thus likely adversely affect the liquidity and market value of the Shares not tendered. The remaining Shareholders who do not wish to tender their Shares in the Post Closing Acceptance Period should carefully review Section 6.11 of the Offer Memorandum, which describes certain risks that will exist in connection with their continued shareholding in Mediq.

Further information
The Offeror is making the Offer on the terms and subject to the conditions and restrictions contained in the Offer Memorandum. In addition, Mediq has made available the Position Statement, containing the information required by Article 18, paragraph 2 and Annex G of the Decree in connection with the Offer. This announcement contains selected, condensed information regarding the Offer and does not replace the Offer Memorandum and/or the Position Statement. The information in this announcement is not complete and additional information is contained in the Offer Memorandum and the Position Statement. Shareholders are advised to review the Offer Memorandum and the Position Statement in detail and to seek independent advice where appropriate in order to reach a reasoned judgment in respect of the Offer and the content of the Offer Memorandum and the Position Statement. Copies of the Offer Memorandum are available free of charge at the offices of the Offeror, Mediq and the Paying and Exchange Agent and can be obtained by contacting the Offeror, Mediq or the Paying and Exchange Agent. Digital copies of the Offer Memorandum are available on the websites of Mediq (www.mediq.com) and Advent (adventinternational.com). The Mediq and Advent websites do not constitute a part of, and are not incorporated by reference into, the Offer Memorandum. Digital copies of the Position Statement are available on the website of Mediq (www.mediq.com).

Restrictions
The Offer is being made with due observance of such statements, conditions and restrictions as are included in the Offer Memorandum. The Offeror reserves the right to accept any tender under the Offer, which is made by or on behalf of a Shareholder, even if it has not been made in the manner set out in the Offer Memorandum. The Offer is not being made, and the Shares will not be accepted for purchase from or on behalf of any Shareholder, in any jurisdiction in which the making of the Offer or acceptance thereof would not be in compliance with the securities or other laws or regulations of such jurisdiction or would require any registration, approval or filing with any regulatory authority not expressly contemplated by the terms of the Offer Memorandum. Persons obtaining the Offer Memorandum are required to take due note and observe all such restrictions and obtain any necessary authorisations, approvals or consents (to the extent applicable). Outside of the Netherlands, no actions have been taken (nor will actions be taken) to make the Offer possible in any jurisdiction where such actions would be required. In addition, the Offer Memorandum has not been filed with or recognised by the authorities of any jurisdiction other than the Netherlands. Neither the Offeror, nor Mediq nor any of their advisers assumes any responsibility for any violation by any person of any these restrictions. Any person (including, without limitation, custodians, nominees and trustees) who forwards or intends to forward the Offer Memorandum or any related document to any jurisdiction outside the Netherlands should carefully read Sections 2 and 3 of the Offer Memorandum (Restrictions and Important Information) before taking any action. The release, publication or distribution of the Offer Memorandum and any document regarding the Offer or the making of the Offer in jurisdictions other than the Netherlands may be restricted by law and therefore persons into whose possession the Offer Memorandum comes should inform themselves about and observe such restrictions. Any failure to comply with any such restrictions may constitute a violation of the law of any such jurisdiction. This announcement is not to be published or distributed in or to Canada or Japan.

United States
The Offer is being made for the securities of a Dutch company and is subject to Dutch disclosure requirements, which differ from those of the United States. The financial information of Mediq included or referred to herein has been prepared in accordance with International Financial Reporting Standards as adopted by the European Union and, accordingly, may not be comparable to financial information of U.S. companies or companies whose financial statements are prepared in accordance with generally accepted accounting principles in the United States. The Offer will be made in the United States pursuant an exemption from the U.S. tender offer rules provided by Rule14d-1(c) under the U.S. Securities Exchange Act of 1934, as amended (the U.S. Exchange Act), and otherwise in accordance with the applicable regulatory requirements in The Netherlands. Accordingly, the Offer will be subject to disclosure and other procedural requirements, including with respect to withdrawal rights, offer timetable, settlement procedures and timing of payments, that are different from those applicable under U.S. domestic tender offer procedures and law.
It may be difficult for U.S. holders of Shares to enforce their rights and claims arising out of the U.S. federal securities laws, since the Offeror and Mediq are located in a country other than the United States, and some or all of their officers and directors may be residents of a country other than the United States. U.S. holders of Shares may not be able to sue a non-U.S. company or its officers or directors in a non-U.S. court for violations of the U.S. securities laws. Further, it may be difficult to compel a non-U.S. company and its affiliates to subject themselves to a U.S. court’s judgment.

In accordance with standard Dutch practice and pursuant to Rule 14e-5(b) of the U.S. Exchange Act, the Offeror or its nominees, or its brokers (acting as agents), or affiliates of the Offeror’s financial advisors, may from time to time make certain purchases of, or arrangements to purchase, Shares outside of the United States, other than pursuant to the Offer, before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. To the extent required in the Netherlands, any information about such purchases will be announced by press release in accordance with Article 13 of the Decree and posted on the website of Advent at adventinternational.com.

Canada and Japan
The Offer is not, directly or indirectly, being made in or into, or by use of the mailing systems of, or by any means or instrumentality (including, without limitation, electronic mail, post, telephone, facsimile, telex or electronic transmission) of interstate or foreign commerce of, or of any facility of a securities exchange of Canada and Japan, and the Offer cannot be accepted by any such use, means, instrumentality or facility or from within Canada or Japan.
Accordingly, the Offer Memorandum and any related documents are not being and must not be mailed or otherwise distributed or sent in or into Canada or Japan or to such persons in their capacity of custodians, trustees, or nominees holding Shares for Canadian and Japanese persons. Persons receiving such documents (including, without limitation, custodians, nominees and trustees) must not distribute or send them into such jurisdictions and doing so will render invalid any relevant purported acceptance of the Offer.

Media contacts

Fergus Wheeler
FTI Consulting
+44 (0) 20 7269 7259
Fergus.wheeler@fticonsulting.com

Edwin Van Wijk
+31 35 692 29 64
evanwijk@valueatstake

Offer update: 96.1% of shares tendered for acceptance

LONDON, 29 January 2013 – AI Garden B.V. (the Offeror), a company ultimately indirectly controlled by funds advised and managed by Advent International, L.P. (Advent), is pleased to announce that, in connection with the Offeror’s recommended all-cash public offer (the Offer) for all the issued and outstanding ordinary shares with a nominal value of EUR 0.25 each (the Shares) in the capital of Mediq N.V. (Mediq), 56,187,125 Shares have been tendered for acceptance during the Offer Period, representing approximately 96.1% of the total number of outstanding Shares and a value (at the increased Offer Price of EUR 14.00 per Share) of EUR 786,619,750.

In accordance with Article 16 of the Decree, the Offeror will announce whether it declares the Offer unconditional (gestanddoening) no later than on Friday 1 February 2013.

Further information
The Offeror is making the Offer on the terms and subject to the conditions and restrictions contained in the Offer Memorandum. In addition, Mediq has made available the Position Statement, containing the information required by Article 18, paragraph 2 and Annex G of the Decree in connection with the Offer.

This announcement contains selected, condensed information regarding the Offer and does not replace the Offer Memorandum and/or the Position Statement. The information in this announcement is not complete and additional information is contained in the Offer Memorandum and the Position Statement.
Shareholders are advised to review the Offer Memorandum and the Position Statement in detail and to seek independent advice where appropriate in order to reach a reasoned judgment in respect of the Offer and the content of the Offer Memorandum and the Position Statement.

Copies of the Offer Memorandum are available free of charge at the offices of the Offeror, Mediq and the Paying and Exchange Agent and can be obtained by contacting the Offeror, Mediq or the Paying and Exchange Agent.

Digital copies of the Offer Memorandum are available on the websites of Mediq (www.mediq.com) and Advent (adventinternational.com). The Mediq and Advent websites do not constitute a part of, and are not incorporated by reference into, the Offer Memorandum. Digital copies of the Position Statement are available on the website of Mediq (www.mediq.com).

Restrictions
The Offer is being made with due observance of such statements, conditions and restrictions as are included in the Offer Memorandum. The Offeror reserves the right to accept any tender under the Offer, which is made by or on behalf of a Shareholder, even if it has not been made in the manner set out in the Offer Memorandum.

The Offer is not being made, and the Shares will not be accepted for purchase from or on behalf of any Shareholder, in any jurisdiction in which the making of the Offer or acceptance thereof would not be in compliance with the securities or other laws or regulations of such jurisdiction or would require any registration, approval or filing with any regulatory authority not expressly contemplated by the terms of the Offer Memorandum. Persons obtaining the Offer Memorandum are required to take due note and observe all such restrictions and obtain any necessary authorisations, approvals or consents (to the extent applicable). Outside of the Netherlands, no actions have been taken (nor will actions be taken) to make the Offer possible in any jurisdiction where such actions would be required. In addition, the Offer Memorandum has not been filed with or recognised by the authorities of any jurisdiction other than the Netherlands. Neither the Offeror, nor Mediq nor any of their advisers assumes any responsibility for any violation by any person of any these restrictions. Any person (including, without limitation, custodians, nominees and trustees) who forwards or intends to forward the Offer Memorandum or any related document to any jurisdiction outside the Netherlands should carefully read Sections 2 and 3 of the Offer Memorandum (Restrictions and Important Information) before taking any action. The release, publication or distribution of the Offer Memorandum and any document regarding the Offer or the making of the Offer in jurisdictions other than the Netherlands may be restricted by law and therefore persons into whose possession the Offer Memorandum comes should inform themselves about and observe such restrictions. Any failure to comply with any such restrictions may constitute a violation of the law of any such jurisdiction. This announcement is not to be published or distributed in or to Canada or Japan.

United States
The Offer is being made for the securities of a Dutch company and is subject to Dutch disclosure requirements, which differ from those of the United States. The financial information of Mediq included or referred to herein has been prepared in accordance with International Financial Reporting Standards as adopted by the European Union and, accordingly, may not be comparable to financial information of U.S. companies or companies whose financial statements are prepared in accordance with generally accepted accounting principles in the United States. The Offer will be made in the United States pursuant an exemption from the U.S. tender offer rules provided by Rule14d-1(c) under the U.S. Securities Exchange Act of 1934, as amended (the U.S. Exchange Act), and otherwise in accordance with the applicable regulatory requirements in The Netherlands. Accordingly, the Offer will be subject to disclosure and other procedural requirements, including with respect to withdrawal rights, offer timetable, settlement procedures and timing of payments, that are different from those applicable under U.S. domestic tender offer procedures and law.
It may be difficult for U.S. holders of Shares to enforce their rights and claims arising out of the U.S. federal securities laws, since the Offeror and Mediq are located in a country other than the United States, and some or all of their officers and directors may be residents of a country other than the United States. U.S. holders of Shares may not be able to sue a non-U.S. company or its officers or directors in a non-U.S. court for violations of the U.S. securities laws. Further, it may be difficult to compel a non-U.S. company and its affiliates to subject themselves to a U.S. court’s judgment.

In accordance with standard Dutch practice and pursuant to Rule 14e-5(b) of the U.S. Exchange Act, the Offeror or its nominees, or its brokers (acting as agents), or affiliates of the Offeror’s financial advisors, may from time to time make certain purchases of, or arrangements to purchase, Shares outside of the United States, other than pursuant to the Offer, before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. To the extent required in the Netherlands, any information about such purchases will be announced by press release in accordance with Article 13 of the Decree and posted on the website of Advent at adventinternational.com.

Canada and Japan
The Offer is not, directly or indirectly, being made in or into, or by use of the mailing systems of, or by any means or instrumentality (including, without limitation, electronic mail, post, telephone, facsimile, telex or electronic transmission) of interstate or foreign commerce of, or of any facility of a securities exchange of Canada and Japan, and the Offer cannot be accepted by any such use, means, instrumentality or facility or from within Canada or Japan.
Accordingly, the Offer Memorandum and any related documents are not being and must not be mailed or otherwise distributed or sent in or into Canada or Japan or to such persons in their capacity of custodians, trustees, or nominees holding Shares for Canadian and Japanese persons. Persons receiving such documents (including, without limitation, custodians, nominees and trustees) must not distribute or send them into such jurisdictions and doing so will render invalid any relevant purported acceptance of the Offer.

About Advent International

Founded in 1984, Advent is one of the world’s leading global buyout firms, with offices in 16 countries on four continents. A driving force in international private equity for more than 28 years, Advent has built an unparalleled global platform of over 170 investment professionals across Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic repositioning opportunities and growth buyouts in five core sectors, including healthcare, working actively with

 

Media contacts

Fergus Wheeler
FTI Consulting
+44 (0) 20 7269 7259
Fergus.wheeler@fticonsulting.com

Edwin Van Wijk
+31 35 692 29 64
evanwijk@valueatstake.nl

Offer update – Increased and inal offer price of EUR 14.00; Offer to expire on 29 January 2013

LONDON, 18 January 2013 – AI Garden B.V. (the Offeror), a company ultimately indirectly controlled by funds advised and managed by Advent International, L.P. (Advent), announces, in connection with the Offeror’s recommended all-cash public offer (the Offer) for all the issued and outstanding ordinary shares with a nominal value of EUR 0.25 each (the Shares) in the capital of Mediq N.V. (Mediq), to increase the offer price to EUR 14.00 per Share cum dividend (the Increased Offer Price), representing a premium of 61.8% over the undisturbed closing price per Share on 21 September 2012.

The Increased Offer Price is final and is being offered as a last attempt to bridge the valuation gap between Advent and those Shareholders that have not yet tendered their Shares under the Offer. Advent firmly believes the Offer is in the best interests of Mediq, its shareholders and all its stakeholders. The obligation of the Offeror to declare the Offer unconditional is conditional upon at least 95% of Mediq’s aggregate issued share capital on a fully diluted basis being tendered as part of the Offer, as set out in more detail in the Offer Memorandum.

Offer Period
As a consequence of this increase of the offer price, the Offer Period will by operation of law be extended to 29 January 2013, 17:40 hours, CET, in accordance with Article 15, paragraph 9 of the Decree. During this extension, a further price increase is under applicable law no longer permitted, whether directly or indirectly through Share acquisitions pursuant to Article 15 paragraph 9 and Article 19, paragraph 2 of the Decree.

Financing
With reference to the press release issued by Advent on 5 October 2012, the Offer now values 100% of the issued and outstanding Shares at approximately EUR 819 million. The additional amount of approximately EUR 44 million required as a consequence of the Increased Offer Price will be entirely financed through equity funded by certain Advent entities. This additional equity funding is fully committed.

Withdrawal rights
During the extended Offer Period, Shares tendered during the initial Offer Period may be withdrawn in accordance with the provisions of Article 15, paragraph 3 of the Decree. Any Shares tendered during the initial Offer Period and not withdrawn will remain subject to
the Offer. Any Shares tendered during the extended offer period may not be withdrawn. For the avoidance of doubt, all Shareholders that have tendered Shares under the Offer, whether tendered during the initial Offer Period or the extended Offer Period, will receive the Increased Offer Price for each Share so tendered if the Offer is declared unconditional, as set out in more detail in the Offer Memorandum.

Further information
The Offeror is making the Offer on the terms and subject to the conditions and restrictions contained in the Offer Memorandum. In addition, Mediq has made available the Position Statement, containing the information required by Article 18, paragraph 2  and Annex G of the Decree in connection with the Offer. This announcement contains selected, condensed information regarding the Offer and does not replace the Offer Memorandum and/or the Position Statement. The information in this announcement is not complete and additional information is contained in the Offer Memorandum and the Position Statement. Shareholders are advised to review the Offer Memorandum and the Position Statement in detail and to seek independent advice where appropriate in order to reach a reasoned judgment in respect of the Offer and the content of the Offer Memorandum and the Position Statement. Copies of the Offer Memorandum are available free of charge at the offices of the Offeror, Mediq and the Paying and Exchange Agent and can be obtained by contacting the Offeror, Mediq or the Paying and Exchange Agent. Digital copies of the Offer Memorandum are available on the websites of Mediq (www.mediq.com) and Advent (adventinternational.com). The Mediq and Advent websites do not constitute a part of, and are not incorporated by reference into, the Offer Memorandum. Digital copies of the Position Statement are available on the website of Mediq (www.mediq.com).

Restrictions
The Offer is being made with due observance of such statements, conditions and restrictions as are included in the Offer Memorandum. The Offeror reserves the right to accept any tender under the Offer, which is made by or on behalf of  a Shareholder, even if it has not been made in the manner set out in the Offer Memorandum. The Offer is not being made, and the Shares will not be accepted for purchase from or on behalf of any Shareholder, in any jurisdiction in which the making of the Offer or acceptance thereof would not be in compliance with the securities or other laws or regulations of such jurisdiction or would require any registration, approval or filing with any regulatory authority not expressly contemplated by the terms of the Offer Memorandum. Persons obtaining the Offer Memorandum are required to take due note and observe all such restrictions and obtain any necessary authorisations, approvals or consents (to the extent applicable). Outside of the Netherlands, no actions have been taken (nor will actions be taken) to make the Offer possible in any jurisdiction where such actions would be required. In addition, the Offer Memorandum has not been filed with or recognised by the authorities of any jurisdiction other than the Netherlands. Neither the Offeror, nor Mediq nor any of their advisers assumes any responsibility for any violation by any person of any these restrictions. Any person (including, without limitation, custodians, nominees and trustees) who forwards or intends to forward the Offer Memorandum or any related document to any jurisdiction outside the Netherlands should carefully read Sections 2 and 3 of the Offer Memorandum (Restrictions and Important Information) before taking any action. The release, publication or distribution of the Offer Memorandum and any document regarding the Offer or the making of the Offer in jurisdictions other than the Netherlands may be restricted by law and therefore persons into whose possession the Offer Memorandum comes should inform themselves about and observe such restrictions. Any failure to comply with any such restrictions may constitute a violation of the law of any such jurisdiction. This announcement is not to be published or distributed in or to Canada or Japan.

United States
The Offer is being made for the securities of a Dutch company and is subject to Dutch disclosure requirements, which differ from those of the United States. The financial information of Mediq included or referred to herein has been prepared in accordance with International Financial Reporting Standards as adopted by the European Union and, accordingly, may not be comparable to financial information of U.S. companies or companies whose financial statements are prepared in accordance with generally accepted accounting principles in the United States. The Offer will be made in the United States pursuant an exemption from the U.S. tender offer rules provided by Rule14d-1(c) under the U.S. Securities Exchange Act of 1934, as amended (the U.S. Exchange Act), and otherwise in accordance with the applicable regulatory requirements in The Netherlands. Accordingly, the Offer will be subject to disclosure and other procedural requirements, including with respect to withdrawal rights, offer timetable, settlement procedures and timing of payments, that are different from those applicable under U.S. domestic tender offer procedures and law. It may be difficult for U.S. holders of Shares to enforce their rights and claims arising out of the U.S. federal securities laws, since the Offeror and Mediq are located in a country other than the United States, and some or all of their officers and directors may be residents of a country other than the United States. U.S. holders of Shares may not be able to sue a non-U.S. company or its officers or directors in a non-U.S. court for violations of the U.S. securities laws. Further, it may be difficult to compel a non-U.S. company and its affiliates to subject themselves to a U.S. court’s judgment.

In accordance with standard Dutch practice and pursuant to Rule 14e-5(b) of the U.S. Exchange Act, the Offeror or its nominees, or its brokers (acting as agents), or affiliates of the Offeror’s financial advisors, may from time to time make certain purchases of, or arrangements to purchase, Shares outside of the United States, other than pursuant to the Offer, before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. To the extent required in the Netherlands, any information about such purchases will be announced by press release in accordance with Article 13 of the Decree and posted on the website of Advent at adventinternational.com.

Canada and Japan
The Offer is not, directly or indirectly, being made in or into, or by use of the mailing systems of, or by any means or instrumentality (including, without limitation, electronic mail, post, telephone, facsimile, telex or electronic transmission) of interstate or foreign commerce of, or of any facility of a securities exchange of Canada and Japan, and the Offer cannot be accepted by any such use, means, instrumentality or facility or from within Canada or Japan. Accordingly, the Offer Memorandum and any related documents are not being and must not be mailed or otherwise distributed or sent in or into Canada or Japan or to such persons in their capacity of custodians, trustees, or nominees holding Shares for Canadian and Japanese persons. Persons receiving such documents (including, without limitation, custodians, nominees and trustees) must not distribute or send them into such jurisdictions and doing so will render invalid any relevant purported acceptance of the Offer.

About Advent International
Founded in 1984, Advent is one of the world’s leading global buyout firms, with offices in 16 countries on four continents. A driving force in international private equity for more than 28 years, Advent has built an unparalleled global platform of over 160 investment professionals across Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic repositioning opportunities and growth buyouts in five core sectors, including healthcare, working actively with management teams to drive revenue growth and earnings improvements in portfolio companies. Since inception, Advent has raised € 19.4 billion in private equity capital and, through its buyout programmes, has completed over 270 transactions in 35 countries. For more information, visit adventinternational.com.

 

Media contacts

Fergus Wheeler
FTI Consulting
+44 (0) 20 7269 7259
Fergus.wheeler@fticonsulting.com

Edwin Van Wijk
+31 35 692 29 64
evanwijk@valueatstake.nl

Offer update – offer period extended until 18 January 2013

LONDON, 4 January 2013 – AI Garden B.V. (the Offeror), a company ultimately indirectly controlled by funds advised and managed by Advent International, L.P. (Advent), announces, in connection with the Offeror’s recommended all-cash public offer (the Offer) for all the issued and outstanding ordinary shares with a nominal value of EUR 0.25 each (the Shares) in the capital of Mediq N.V. (Mediq), that the Offer Period for its Offer for Mediq is extended to 18 January 2013 after its initial expiry on 4 January 2013, such in accordance with the terms and conditions set out in the Offer Memorandum dated 8 November 2012. The Offer Period has been extended because the Minimum Acceptance Condition for completion of the Offer as set out in paragraph 6.7.1(b) of the Offer Memorandum was not fulfilled upon the expiry of the initial Offer Period on 4 January 2013. During the initial Offer Period 31,499,715 Shares, representing approximately 54% of the total number of outstanding Shares and a value (at the Offer Price) of EUR 417,371,223.75, have been tendered under the Offer.

Further information
The Offeror is making the Offer on the terms and subject to the conditions and restrictions contained in the Offer Memorandum. In addition, Mediq has made available the Position Statement, containing the information required by Article 18, paragraph 2 and Annex G of the Decree in connection with the Offer. This announcement contains selected, condensed information regarding the Offer and does not replace the Offer Memorandum and/or the Position Statement. The information in this announcement is not complete and additional information is contained in the Offer Memorandum and the Position Statement. Shareholders are advised to review the Offer Memorandum and the Position Statement in detail and to seek independent advice where appropriate in order to reach a reasoned judgment in respect of the Offer and the content of the Offer Memorandum and the Position Statement. Copies of the Offer Memorandum are available free of charge at the offices of the Offeror, Mediq and the Paying and Exchange Agent and can be obtained by contacting the Offeror, Mediq or the Paying and Exchange Agent. Digital copies of the Offer Memorandum are available on the websites of Mediq (www.mediq.com) and Advent (adventinternational.com). The Mediq and Advent websites do not constitute a part of, and are not incorporated by reference into, the Offer Memorandum. Digital copies of the Position Statement are available on the website ofMediq (www.mediq.com).

Restrictions
The Offer is being made with due observance of such statements, conditions and restrictions as are included in the Offer Memorandum. The Offeror reserves the right to accept any tender under the Offer, which is made by or on behalf of a Shareholder, even if it has not been made in the manner set out in the Offer Memorandum. The Offer is not being made, and the Shares will not be accepted for purchase from or on behalf of any Shareholder, in any jurisdiction in which the making of the Offer or acceptance thereof would not be in compliance with the securities or other laws or regulations of such jurisdiction or would require any registration, approval or filing with any regulatory authority not expressly contemplated by the terms of the Offer Memorandum. Persons obtaining the Offer Memorandum are required to take due note and observe all such restrictions and obtain any necessary authorisations, approvals or consents (to the extent applicable). Outside of the Netherlands, no actions have been taken (nor will actions be taken) to make the Offer possible in any jurisdiction where such actions would be required. In addition, the Offer Memorandum has not been filed with or recognised by the authorities of any jurisdiction other than the Netherlands. Neither the Offeror, nor Mediq nor any of their advisers assumes any responsibility for any violation by any person of any these restrictions. Any person (including, without limitation, custodians, nominees and trustees) who forwards or intends to forward the Offer Memorandum or any related document to any jurisdiction outside the Netherlands should carefully read Sections 2 and 3 of the Offer Memorandum (Restrictions and Important Information) before taking any action. The release, publication or distribution of the Offer Memorandum and any document regarding the Offer or the making of the Offer in jurisdictions other than the Netherlands may be restricted by law and therefore persons into whose possession the Offer Memorandum comes should inform themselves about and observe such restrictions. Any failure to comply with any such restrictions may constitute a violation of the law of any such jurisdiction. This announcement is not to be published or distributed in or to Canada or Japan.

United States
The Offer is being made for the securities of a Dutch company and is subject to Dutch disclosure requirements, which differ from those of the United States. The financial information of Mediq included or referred to herein has been prepared in accordance with International Financial Reporting Standards as adopted by the European Union and, accordingly, may not be comparable to financial information of U.S. companies or companies whose financial statements are prepared in accordance with generally accepted accounting principles in the United States. The Offer will be made in the United States pursuant an exemption from the U.S. tender offer rules provided by Rule14d-1(c) under the U.S. Securities Exchange Act of 1934, as amended (the U.S. Exchange Act), and otherwise in accordance with the applicable regulatory requirements in The Netherlands. Accordingly, the Offer will be subject to disclosure and other procedural requirements, including with respect to withdrawal rights, offer timetable, settlement procedures and timing of payments, that are different from those applicable under U.S. domestic tender offer procedures and law. It may be difficult for U.S. holders of Shares to enforce their rights and claims arising out of the U.S. federal securities laws, since the Offeror and Mediq are located in a country other than the United States, and some or all of their officers and directors may be residents of a country other than the United States. U.S. holders of Shares may not be able to sue a non-U.S. company or its officers or directors in a non-U.S. court for violations of the U.S. securities laws. Further, it may be difficult to compel a non-U.S. company and its affiliates to subject themselves to a U.S. court’s judgment. In accordance with standard Dutch practice and pursuant to Rule 14e-5(b) of the U.S. Exchange Act, the Offeror or its nominees, or its brokers (acting as agents), or affiliates of the Offeror’s financial advisors, may from time to time make certain purchases of, or arrangements to purchase, Shares outside of the United States, other than pursuant to the Offer, before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. To the extent required in the Netherlands, any information about such purchases will be announced by press release in accordance with Article 13 of the Decree and posted on the website of Advent at adventinternational.com.

Canada and Japan
The Offer is not, directly or indirectly, being made in or into, or by use of the mailing systems of, or by any means or instrumentality (including, without limitation, electronic mail, post, telephone, facsimile, telex or electronic transmission) of interstate or foreign commerce of, or of any facility of a securities exchange of Canada and Japan, and the Offer cannot be accepted by any such use, means, instrumentality or facility or from within Canada or Japan.
Accordingly, the Offer Memorandum and any related documents are not being and must not be mailed or otherwise distributed or sent in or into Canada or Japan or to such persons in their capacity of custodians, trustees, or nominees holding Shares for Canadian and Japanese persons. Persons receiving such documents (including, without limitation, custodians, nominees and trustees) must not distribute or send them into such jurisdictions and doing so will render invalid any relevant purported acceptance of the Offer.

About Advent International
Founded in 1984, Advent is one of the world’s leading global buyout firms, with offices in 16 countries on four continents. A driving force in international private equity for more than 28 years, Advent has built an unparalleled global platform of over 160 investment professionals across Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic repositioning opportunities and growth buyouts in five core sectors, including healthcare, working actively with management teams to drive revenue growth and earnings improvements in portfolio companies. Since inception, Advent has raised € 19.4 billion in private equity capital and, through its buyout programmes, has completed over 270 transactions in 35 countries. For more information, visit adventinternational.com.

 

Media contacts

Fergus Wheeler
FTI Consulting
Tel: +44 (0) 207 269 7259 https://s17401.pcdn.co/ 7250
fergus.wheeler@fticonsulting.com

Tender offer for DOUGLAS HOLDING AG: 96.11 percent of shares attained

FRANKFURT AM MAIN, 2 January 2013 – The DOUGLAS founding family Kreke and Advent International today announced the result of the voluntary public tender offer for DOUGLAS HOLDING AG after the expiry of the additional acceptance period. During the additional acceptance period, which ended on 21 December 2012, 456,972 shares were tendered to Beauty Holding Three AG, a holding company indirectly held in part by funds advised by Advent International and in part by the Kreke family. Together with the shares tendered in the acceptance period totaling 79.84 percent and the 12.73 percent shareholding acquired from Lobelia Beteiligungs GmbH (the Kreke family), this makes up a total shareholding of 93.73 percent. In addition, Beauty Holding Three AG made share purchases outside the tender offer totaling a further 2.38 percent and has thus acquired 96.11 percent of all shares. DOUGLAS shareholders who have tendered their shares during the additional acceptance period are expected to receive payment of the offer price of EUR 38 per share on 9 January 2013.

As already announced, at 95 percent, Beauty Holding Three AG has reached the size of shareholding needed to make a request for a squeeze-out of the remaining shareholders in DOUGLAS HOLDING AG in accordance with the provisions of the German Securities  Acquisition and Takeover Act (WpÜG). DOUGLAS shareholders who have not accepted the tender offer by 21 December 2012 can therefore tender their shares for the price of EUR 38 per share in cash during a further tender period ending at midnight CET on 20 March 2013. Further details of this further tender period can be obtained from the offer document and the announcement published on 20 December 2012.

Ranjan Sen, General Manager of Advent International GmbH in Frankfurt: “We are delighted that the offer has received such a positive response, in particular during the additional acceptance period. Advent International and the Kreke family will now jointly evaluate the resulting options and further promote the  development of the DOUGLAS Group.” Dr. Jörn Kreke, founder and Chairman of the Supervisory Board of DOUGLAS HOLDING AG,
adds: “We are very pleased about the clear result and the high acceptance of our offer. In Advent International, we have a strong partner at our side. With a stable ownership structure, we will now jointly carry forward the success story of the group and strengthen and expand the market position of the DOUGLAS Group.”

Further information on the public tender offer may be accessed on www.douglas-offer.com.

Important legal information https://s17401.pcdn.co/ Disclaimer

This announcement is neither an offer to purchase nor an invitation to submit for sale the shares of DOUGLAS HOLDING AG. The terms and conditions of the takeover offer as well as other provisions pertaining to the takeover offer are solely governed by the offer document which is published in the internet under http://www.douglas-offer.com. The terms and conditions of the takeover offer may differ from the general information described here. It is urgently recommended that investors and owners of shares of DOUGLAS HOLDING AG (“Douglas Shareholders”) read the entire offer document and all documents connected with the takeover offer, because they contain important information. This announcement contains specific forward-looking statements. These statements do not represent facts and are characterised by words such as “expect”, “believe”, “estimate”, “intend”, “aim”, “assume” or similar expressions. Such statements express the intentions, opinions or current expectations of Beauty Holding Three AG (the “Bidder”) and persons acting in concert with the Bidder pursuant to Section 2 para. 5 sentence 1 and sentence 3 of WpÜG with respect to possible future events, e.g., regarding the possible consequences of the takeover offer for DOUGLAS HOLDING AG, for those DOUGLAS Shareholders who choose not to accept the takeover offer or for future financial results of DOUGLAS HOLDING AG. Such forward-looking statements are based on current plans, estimates and forecasts which the Bidder and the persons acting in concert with the Bidder pursuant to section 2 para. 5 sentence 1 and sentence 3 of WpÜG have made to the best of their knowledge, but which do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and generally cannot be influenced by the Bidder and persons acting in concert with the Bidder within the meaning of Section 2 para. 5 sentence 1 and sentence 3 of WpÜG. The forward-looking statements contained in this announcement could turn out to be incorrect; future events and developments could considerably deviate from the forward-looking statements contained in this announcement.

The takeover offer is issued exclusively under the laws of the Federal Republic of Germany, expecially under the WpÜG and the Regulation on the Content of the Offer Document, Consideration for Takeover Offers and Mandatory Offers and the Release from the Obligation to Publish and Issue an Offer (“WpÜG Offer Regulation”) and certain applicable provisions of U.S. securities law. The takeover offer is not executed according to the provisions of jurisdictions (including the jurisdictions of Canada, Australia, and Japan) other than those of the Federal Republic of Germany and certain applicable provisions of U.S. securities law. Thus, no other announcements, registrations, admissions or approvals of the takeover offer outside the Federal Republic of Germany have been filed, arranged for or granted. The Douglas Shareholders cannot rely on having recourse to provisions for the protection of investors according to another jurisdiction than that of the Federal Republic of Germany. Any contract that is concluded on the basis of this takeover offer is exclusively governed by the laws of the Federal Republic of Germany and is to be interpreted in accordance with them.

DOUGLAS Shareholders in the United States (the “U.S. Shareholders”) are notified that this takeover offer is being made in respect of securities of a company that is a foreign private issuer within the meaning of the Securities Exchange Act of of the United States of 1934, as amended (the “Exchange Act”) and whose shares are not registered pursuant to Section 12 of the Exchange Act. Before deciding to sell DOUGLAS Shares, U.S. Shareholders should carefully read the section “Important information U.S. Shareholders” of the offer document because there are considerable differences between this takeover offer and public tender offers for securities of U.S. companies. This takeover offer is being made in reliance on, and in  compliance with exemptions from the application of certain provisions of the Exchange Act. Consequently, the Bidder is not required to comply with all of the tender offer rules under the Exchange Act and accordingly is subject to publication and other procedural requirements with regard to, inter alia, withdrawal rights, offer period, settlement procedures, and timing of payments, which may differ from the relevant requirements governing public tender offers in the United States.

About DOUGLAS HOLDING AG

With annual sales of more than EUR 3 billion, the DOUGLAS Group ranks amongst the leading European retailers. As a company listed in the MDAX the DOUGLAS Group represents “Excellence in Retailing” – with outstanding service, top quality products, an experiential store ambiance, and the friendliest employees in the business. The Group’s five retail divisions – Douglas perfumeries, Thalia bookstores, Christ jewelry stores, AppelrathCüpper fashion stores, and Hussel confectioneries – are among the market leaders and trendsetters in their respective sectors. The more than 24,000 employees provide a high level of service in the 1,900 specialty stores. In its state-of-the-art online shops the DOUGLAS Group also offers its outstanding service on the Internet.

About Advent International

Founded in 1984, Advent International is one of the world’s leading global buyout firms, with offices in 16 countries on four continents. Advent International is advised on investments in Germany by Advent International GmbH, Frankfurt. A driving force in international private equity for more than 28 years, Advent International has built an unparalleled global platform of over 170 investment professionals across Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic repositioning opportunities and growth buyouts in five core sectors, working actively with management teams to drive revenue growth and earnings improvements in portfolio companies. Since inception, Advent International has raised EUR 28 billion (USD 37 billion) in private equity capital and, through its buyout programmes, has completed 279 transactions in 35 countries.

For further information please go to adventinternational.com.

 

Media contacts

Kreke Family
CNC – Communications & Network Consulting AG
Mirko Wollrab
Phone: +49 69 506 037 562
Mobile: +49 172 673 3826
Mirko.Wollrab@cnc-communications.com

Advent International
Hering Schuppener Consulting 
Dr. Brigitte von Haacke
Phone: +49-69-921874-62
Mobile: +49 (171) 8630046
bvhaacke@heringschuppener.com

Oda von Dreising
Phone: +49-69-921874-47
Mobile: +49 (151) 15176631
ovdreising@heringschuppener.com

Harald Kinzler
Phone: +49-69-921874-65
Mobile: +49 (173) 3068688
hkinzler@heringschuppener.com

Former Cytec Industries coating resins business becomes independent as sale to funds affiliated with Advent International is completed

BRUSSELS, April 3, 2013 – The coating resins business that was formerly part of Cytec Industries Inc. (NYSE: CYT) today announced that it has become an independent company with the completion of the previously announced sale from Cytec to funds affiliated with Advent International, one of the leading global private equity firms. The coating resins business, which will adopt a new brand name in the coming months, is one of the leading global producers of coating resins with a broad product portfolio and leading market and technology positions.

“Today is an exciting first step on our journey as an independent company,” said Frank J. Aranzana, Chief Executive Officer of the coating resins business. “We thank Cytec for its many years of support and now look forward to the next chapter in our continued growth. We believe our future holds great promise for our employees, our customers and our suppliers. With the support of Advent, an investment partner with proven expertise building strong global chemicals companies, and our talented employees around the world, we intend to pursue and achieve the many growth opportunities before us.”

The new company is performing well. It is one of the largest producers in a $30 billion global market that is growing strongly, as end users seek cost-efficient and environmentally friendly technologies for their coating processes and individual applications. Advent and the new company see many opportunities for further development.

“Our focus for the new company moving forward will be to ensure that it is a leader in the product categories and geographies that present the best growth opportunities now and well into the future,” said Ronald Ayles, Managing Director and head of Advent’s chemicals practice. “We will work closely with the Management Team to invest in the company and its people to grow its U.S. and European businesses and to expand its product offerings and deepen its penetration in emerging markets such as Asia.”

The coating resins business is headquartered in Brussels, Belgium and has operations throughout Europe, the United States, and Asia. It develops, produces and sells synthetic resins used for the production of paints and coatings as well as printing inks. The portfolio also includes crosslinkers and additives.

Advent has been active in the chemicals industry for more than 25 years and has invested in over 30 companies in the sector globally. The firm has developed a strong track record in acquiring these businesses from multinational corporations and enabling them to become successful independent companies. Advent’s recent investments in the chemicals and materials sector include H.C. Starck, Maxam, Mondo Minerals, Oxea and Vinnolit.

About Coating Resins

As a leading global producer of specialty resins, Coating Resins holds an extensive portfolio of market leading Liquid Resins & Additives, Radiation Curing Resins, Powder Coating Resins and Crosslinkers. Coating Resins today has approximately 2,000 employees, worldwide spread over 16 manufacturing facilities, 13 research and technology support centers, and two joint ventures (in Korea and Japan). For more information, please visit our temporary website www.mycoatingresins.com
About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global investors dedicated solely to private equity. Since inception, the firm has raised €28 billion ($37 billion) and invested in more than 280 buyout transactions in 36 countries, achieving over 210 full or partial exits. With offices on four continents, Advent has established a globally integrated team of over 170 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on growth and traditional buyout and strategic repositioning transactions across five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecoms. After 29 years dedicated to international private equity, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for portfolio companies. For more information, please visit adventinternational.com.

 

Media contacts

Coating Resins
Martine Van Driessche
Director Communications
+32 474-17-99-35
martine.vandriessche@cytec.com

Advent International
Carolin Amann
FTI Consulting
+49 69 920 37 132
Carolin.Amann@fticonsulting.com

Chuck Dohrenwend or Dana Gorman
The Abernathy MacGregor Group
+1 212-371-5999
adventinternational@abmac.com 

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